Chevron Corporation (NYSE:CVX) is included among the 12 Best Large Cap Energy Stocks to Buy Now.
Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.
On March 12, Piper Sandler analyst Ryan Todd significantly increased the firm’s price target on Chevron Corporation (NYSE:CVX) from $179 to $242, while keeping an ‘Overweight’ rating on the shares. The bumped target, which indicates an upside of almost 23% from the current levels, comes as the analyst firm raised its mid-cycle crude price forecast to $75 per barrel from $70 previously.
The price deck increase comes amid the US-Iran war, which has threatened to block around a fifth of the global crude oil supply. While the duration of these supply disruptions remains uncertain for now, Piper Sandler expects them to leave a lasting impact. The analyst firm is projecting 2026 crude balances to tighten by about 2 Mb/d compared to prior forecasts. Moreover, Piper expects the tightening supply, paired with soaring prices, to further incentivize investment in increasing production.
As of the writing of this piece, the share price of Chevron Corporation (NYSE:CVX) has surged by over 26% since the beginning of 2026.
While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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